LATE-STAGE SOCIALISM: Venezuela inflation 454 percent in first quarter.
Annual inflation over the last 12 months, according to the National Assembly, is just shy of 8,900 percent. Monthly inflation in March was 67 percent, down from 80 percent the previous month. The country’s central bank has not published inflation data for more than two years.
However, it does publish money supply data, the sum of cash, with checking, savings, and other deposits. That has risen more than 2,900 percent in the last 12 months, which, without an increase in the supply of goods and services, is a textbook cause of inflation.
The only thing socialists never run out of is zeroes.